Yearly sales are expected to generate over $250,000! The motel is newly renovated and recently reopened!
The motel currently has 24 rentable rooms! Downstairs has an additional separate office, manager's living room, and kitchen onsite! Upstairs, the manager is occupying 4 rooms for her family. Opportunity to expand to 30 rentable rooms!
The daily rate is $45. The weekly rate is $225. The monthly rate is $800.
The occupancy rate is roughly 70%.
Net profit before mortgage is over $166,000 per year AFTER $24,000 in Manager wages, $23,000 in utilities, $18,000 in insurance, and all other expenses!
house next-door to the Motel property is included in the sale! Currently, the house is in bad condition and will need to be completely renovated. It is 1,000 sq. ft. with 1 bedroom, 1 bath and a basement! After renovations, Buyer could also rent out the house for $650 per month for additional cash flow!
Geographic Details
Near schools like Albany State University with over 5,800 students and Albany Technical College with over 3,000 students!
Close proximity to restaurants like Subway, Checkers, Waffle House, Hardee’s, and Cook Out!
Near local hotspots like the MillerCoors Albany Brewery, regional hospital, planetarium, and Riverside Park with consistent river tourism!
The asking price for the newly renovated motel property with adjacent house is only $1.2 million!
